Deutsche Bank Aktiengesellschaft

XTRA:DBK Stock Report

Market Cap: €51.7b

Deutsche Bank Valuation

Is DBK undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Future Cash Flow Value

What is the Fair Price of DBK when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: DBK (€27.53) is trading below our estimate of future cash flow value (€37.72)

Significantly Below Future Cash Flow Value: DBK is trading below future cash flow value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for DBK?

Key metric: As DBK is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for DBK. This is calculated by dividing DBK's market cap by their current earnings.
What is DBK's PE Ratio?
PE Ratio8.6x
Earnings€6.00b
Market Cap€51.74b

Price to Earnings Ratio vs Peers

How does DBK's PE Ratio compare to its peers?

The above table shows the PE ratio for DBK vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average16.6x
DB1 Deutsche Börse
21.8x6.73%€44.8b
DWS DWS Group GmbH KGaA
12x5.32%€11.9b
MQG Macquarie Group
18.5x5.89%AU$86.6b
BPAC11 Banco BTG Pactual
14.1x14.32%R$243.8b
DBK Deutsche Bank
8.6x7.37%€51.7b

Price-To-Earnings vs Peers: DBK is good value based on its Price-To-Earnings Ratio (8.6x) compared to the peer average (16.6x).

Historical Price to Earnings Ratio

Historical Price to Earnings Ratio compares a stock's price to its earnings over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Earnings Ratio vs Industry

How does DBK's PE Ratio compare vs other companies in the DE Capital Markets Industry?

4 CompaniesPrice / EarningsEstimated GrowthMarket Cap
BBHK Deutsche Balaton
3.1xn/aUS$344.20m
CAG0 Clere
3.7xn/aUS$97.81m
ECS0 Eight Capital Partners
0.9xn/aUS$23.96m
XE8 Black Sea Property
1.5xn/aUS$1.42m
No more companies available in this PE range
DBK 8.6xIndustry Avg. 14.9xNo. of Companies8PE01632486480+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: DBK is good value based on its Price-To-Earnings Ratio (8.6x) compared to the German Capital Markets industry average (14.9x).

Price to Earnings Ratio vs Fair Ratio

What is DBK's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

DBK PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio8.6x
Fair PE Ratio22.9x

Price-To-Earnings vs Fair Ratio: DBK is good value based on its Price-To-Earnings Ratio (8.6x) compared to the estimated Fair Price-To-Earnings Ratio (22.9x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst DBK forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€27.53
€31.48
+14.35%
19.97%€40.00€10.90n/a17
Jun ’27€27.52
€31.48
+14.39%
19.97%€40.00€10.90n/a17
May ’27€26.50
€31.85
+20.20%
19.41%€40.00€10.90n/a17
Apr ’27€26.37
€32.77
+24.28%
20.22%€40.00€10.90n/a17
Mar ’27€30.30
€33.65
+11.07%
19.92%€40.00€10.90n/a17
Feb ’27€33.30
€33.23
-0.20%
20.96%€40.00€10.90n/a17
Jan ’27€33.11
€31.27
-5.57%
22.86%€39.00€10.90n/a16
Dec ’26€30.49
€31.33
+2.75%
22.92%€39.00€10.90n/a16
Nov ’26€30.93
€30.15
-2.53%
22.18%€39.00€10.90n/a16
Oct ’26€30.10
€28.57
-5.07%
22.07%€35.00€10.93n/a15
Sep ’26€30.21
€27.75
-8.13%
21.77%€34.00€10.93n/a15
Aug ’26€28.10
€27.15
-3.35%
20.76%€33.00€10.93n/a15
Jul ’26€24.26
€23.89
-1.52%
19.27%€29.50€10.93n/a15
Jun ’26€24.36
€23.27
-4.48%
19.75%€29.20€10.93€27.5214
May ’26€22.98
€22.18
-3.50%
21.06%€28.25€10.93€26.5015
Apr ’26€22.25
€21.09
-5.21%
21.28%€28.40€10.93€26.3715
Mar ’26€20.73
€19.82
-4.37%
16.97%€24.80€10.93€30.3015
Feb ’26€18.94
€19.07
+0.68%
17.99%€24.80€10.90€33.3015
Jan ’26€16.64
€18.20
+9.38%
19.66%€23.20€10.90€33.1115
Dec ’25€16.07
€17.97
+11.78%
18.81%€23.20€10.90€30.4915
Nov ’25€15.82
€17.95
+13.52%
18.76%€23.20€10.90€30.9315
Oct ’25€15.35
€17.19
+12.04%
19.19%€22.30€10.90€30.1016
Sep ’25€14.75
€17.80
+20.68%
38.32%€43.00€10.90€30.2118
Aug ’25€13.99
€17.79
+27.14%
38.31%€43.00€10.90€28.1018
Jul ’25€15.41
€17.53
+13.79%
38.87%€43.00€10.90€24.2618
Jun ’25€15.23
€17.50
+14.95%
38.82%€43.00€10.90€24.3618
€31.48
Fair Value
12.5% undervalued intrinsic discount
17
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/06/08 07:52
End of Day Share Price 2026/06/05 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Deutsche Bank Aktiengesellschaft is covered by 31 analysts. 13 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Jesús Gómez DominguezBanco Santander
Flora Benhakoun BocahutBarclays
Roberto de Aguiar AttuchBarclays